He said the most recent analysis for the remaining ultimately recoverable oil resources puts the figure at 2.8 trillion barrels.
“It should be underscored that despite the continuing cumulative production, these numbers have increased over the past five decades. Moreover, these numbers do not take into account the large amounts of available unconventional oil and gas resources. Of course, as well as opportunities, there will be challenges too. For instance, there is the global economy, human resources, technology, investments and the environment and climate change. In terms of the environment and climate change – we need to remember that this is a concern for us all.”